We quibble with many aspects of this widely watched housing index. Its calculation omits many parts of the market and its lag (the release covers data from two months before) means it has little bearing on the future. However, recent housing market data continue to reflect considerable strength.

Following last week’s parliamentary elections, these economic reports are likely to be closely watched by Japanese politicians and investors. However, little has changed in the last few weeks to reasonably alter consensus expectations of medicore results.

Friday, 12/28:

France November consumer manufactured goods consumption

France Q3 GDP (Revised)

While France’s preliminary Q3 result showed the country just barely grew, we find it unlikely that story changes materially given the myriad issues the country is dealing with today. For more, see our 11/07/2012 cover story, “Hollande Taketh, Hollande Giveth.”

Italian November PPI

Spain November retail sales

US December Chicago PMI

US November pending home sales

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*The content contained in this article represents only the opinions and viewpoints of the Fisher Investments editorial staff.

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